Globally, the automotive industry is witnessing promising growth, driven by the dire need to transform the driving experience for end-users. SpendEdge’s procurement report on the automotive electronics market shows that electric cars are the new trend in the market and governments across the globe are contributing towards this growth by offering tax benefits. The recent acquisition of automotive electronics companies by major semiconductor giants highlights the appetite that large semiconductor companies have for this market. For most automotive electronics companies, this presents a huge opportunity for business development and expansion. However, they do have to focus a lot on product quality and ensure that the electronics components are reliable. This recent change in the focus of automotive electronics companies will impact the supply chain of materials.
Though the industry is characterized by the presence of various small and large automotive electronics companies, here are some of the key suppliers who will dominate the market this year:
Founded in 1886, Bosch is one of the world’s most renowned automotive electronics companies. They have branches in over 150 countries and employ more than 400,000 employees around the globe. Apart from developing electronics for cars, Bosch also specializes in manufacturing electrical equipment and supplies.
Their product portfolio ranges from high-performance coatings, fuel additives, and plastics to chemicals, battery materials, and brake fluids. They are one of the world’s leading automotive electronics companies who specializes in developing products with higher power output and lower emissions.